Detained Binance Executive Tigran Gambaryan’s Family Calls for Release

The health of detained Binance executive Tigran Gambaryan is rapidly declining, according to a statement released by his family’s representatives on Monday. Gambaryan, who has been held in Nigeria since February, is now mostly bedridden, with serious health conditions that require immediate medical attention. His family has expressed deep concern over the lack of proper healthcare he is receiving while in custody.

Gambaryan, a U.S. citizen and the financial crime compliance chief at Binance, has been suffering from a herniated disc in his back, which has progressively worsened. According to the statement, the condition now poses a severe threat to his mobility, with the possibility of causing permanent damage. In addition to this, Gambaryan has been battling throat infections, pneumonia, and requires surgery to remove his tonsils.

“My once fit and healthy husband, who loves working out, is now wheelchair-bound due to a treatable condition that has not been properly addressed,” said Yuki Gambaryan, his wife, in a heartfelt statement. “The herniated disc in his back has worsened to the point where it might leave permanent damage and affect his ability to walk.”

Gambaryan’s detention in Nigeria began in February when he and Nadeem Anjarwalla, Binance’s Africa regional manager, were arrested upon their arrival in Abuja. The arrest was made on allegations that Binance had been making illegal profits through transactions in Nigeria. Criminal charges were swiftly filed against the pair on February 28. While Anjarwalla managed to escape custody in March, Gambaryan remained incarcerated.

Since his detention, Gambaryan’s legal team has faced significant obstacles in defending him. Notably, they have been barred from visiting him at Kuje prison, a move that has drawn sharp criticism from various quarters. Despite these legal challenges, Binance continues to call for Gambaryan’s release, with CEO Richard Teng stating that Gambaryan was in Nigeria to contribute as an expert in financial crime and to engage in policy discussions.

The situation surrounding Binance in Nigeria has been complex and fraught with tension. It began two years ago when Nigeria’s Securities and Exchange Commission (SEC) introduced regulations requiring digital asset exchanges to obtain specific permits. Although Binance attempted to comply, it struggled with unclear guidelines and a lack of response from the SEC. This regulatory uncertainty culminated in June 2023, when the SEC accused Binance of operating illegally, prompting Binance to suspend its services to Nigerian investors.

Despite the ongoing legal and regulatory issues, the Nigerian SEC has remained silent on Gambaryan’s deteriorating health and the circumstances of his detention. There has been no immediate response from the SEC regarding Monday’s statement from Gambaryan’s family.

Gambaryan’s case has also caught the attention of U.S. lawmakers, who have taken steps to advocate for his release. In June, a bipartisan group of legislators sent a letter to President Joe Biden, Secretary of State Antony Blinken, and Special Presidential Envoy for Hostage Affairs Roger Carstens, urging them to treat Gambaryan’s situation as a hostage crisis. The letter highlighted the inadequate healthcare provided to Gambaryan in prison and expressed fears for his life.

The letter was spearheaded by Michael McCaul, Chairman of the House Foreign Affairs Committee, along with 15 other members of Congress. The lawmakers emphasized the urgency of securing Gambaryan’s release, citing the immediate need for proper medical care and the risk of permanent health damage if his conditions continue to be neglected.

As the detained Binance executive’s health continues to decline, the situation has reached a critical point. His family’s pleas for urgent medical attention and his release have yet to be heeded. The international community, along with U.S. lawmakers, is watching closely, with growing concern for Gambaryan’s well-being.

For Gambaryan, the immediate concern is not corporate compliance but the very real threat to his health and life. His family, legal team, and advocates are calling for swift action to ensure that he receives the medical care he so desperately needs before it is too late.

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